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Global Net Lease implements short-term shareholder rights plan amid pandemic

Global Net Lease's board approved a short-term shareholder rights plan that will run through April 8, 2021, to safeguard the single-tenant net-lease real estate investment trust's long-term interests.

The REIT said the move comes amid the substantial volatility in the trading of its common stock because of the coronavirus pandemic.

Under the terms of the plan, the rights will initially trade with common stock and will generally become exercisable on the 10th business day after the board is made aware that a person or entity owns at least 4.9% of Global Net Lease's common shares, or the launch of a tender or exchange offer that would lead to the offeror becoming an owner of 4.9% or more of the REIT's common shares.

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